MPA given powers to block purchase or disposal of stake in key entities

Singapore

THE Maritime and Port Authority of Singapore (MPA) will now have the power to reject an acquisition or disposal of equity interest in key designated entities, if it deems they hurt the port's interests.

"These designated entities include designated public licensees, designated business trusts and designated equity interest holders," said Senior Minister of State for Transport Lam Pin Min, who moved the Second Reading of the Maritime and Port Authority of Singapore (Amendment) Bill in Parliament on Monday.